Compare actual income and expenses with both the selected period's budget and the accumulated year-to-date budget. The screen caption may say Income Statement-Monthly & Year Budgets.
Using this option
- Choose the statement format, year, and accounting period when prompted.
- If the Cost Center or Department # prompt appears, enter one department to limit the report or leave it blank for all departments.
- Review the two groups of results: period budget, period actual, and period budget difference; then year-to-date budget, year-to-date actual, and year-to-date budget difference.
Notes
The year-to-date budget is the sum of the account's period budgets through the selected period. It is not automatically the full annual budget.
Differences are calculated as budget less actual activity, with presentation controlled by the statement design. Review the selected period and account budgets if the comparison looks wrong.